Wednesday, February 24, 2010

Phew!!…So all is OK in the UK Banking Sector

U.K. to End Northern Rock Blanket Guarantee

LONDON—The U.K. government on Wednesday confirmed it will end its blanket guarantee on savings deposits at state-owned Northern Rock PLC on May 24, in what it called an "important milestone" toward the bank eventually regaining independence.

Posted by magnaman @ 10:06 AM (894 views)
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2 thoughts on “Phew!!…So all is OK in the UK Banking Sector

  • ……”important milestone” toward the bank eventually regaining independence to cause havov again!

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  • Magnaman – yes although the hope is that the banks will be a bit more resilient having had a couple of years of state protection, time enough to sanitise the most rotten parts of their business you would think.

    The pressure is on to normalise the economy again, despite the talk of extending QE.

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